Required information [The following information applies to the questions displayed below.] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 210 items at $89 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Transaction March 5 April 10 Purchased Sold June 19 Sold September 16 Purchased November 28 Sold Description 190 items @ $99 115 items @ $193 205 items @ $193 140 items @ $104 105 items @ $198 b. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. Sales Cost of goods sold $ 82,550 Gross margin Required information [The following information applies to the questions displayed below.] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 210 items at $89 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Transaction March 5 April 10 June 19 Purchased Sold Sold September 16 November 28 Purchased Sold Description 190 items $99 115 items @ $193 205 items @ $193 140 items @ $104 105 items @ $198 c. Determine the ending inventory balance Pam's Creations would report on the December 31, Year 2, balance sheet. Ending inventory